CAMBRIDGE, MASS. — Alliara LLC has acquired a 27,796-square-foot retail and apartment building in Cambridge for $31.6 million. Located at 18-28 John F. Kennedy St., the fully leased property contains 16 apartments and 12,150 square feet of retail. Tenants include Papyrus, Uno Chicago Grill and Vitamin Shoppe. Boston Realty Advisors represented the seller.
PORTLAND, MAINE — Fantini & Gorga has arranged $9 million in permanent financing for Danforth Heights Apartments, a 166-unit affordable apartment property in Portland. The eight-building property, located at 48 Salem St., was constructed by its current owner in 1972. Fantini & Gorga secured the 35-year, fixed-rate loan through Eastern Mortgage Capital.
BOSTON — Clarion Partners has acquired six office properties in Boston's Seaport District for $129.3 million. The 407,500-square-foot Fort Point portfolio is 96 percent occupied. The seller was a joint venture between Angelo, Gordon & Co. and National Development. The sale includes a 94,314-square-foot property at 33-41 Farnsworth St.; 34 and 44 Farnsworth St., featuring 24,387 and 93,824 square feet, respectively; 332 and 374 Congress St., which includes 34,412 and 96,236 square feet, respectively; and the 64,204-square-foot 263 Summer St. Ben Sayles and Coleman Benedict led the HFF team that represented the seller in the transaction.
EDISON, N.J. — National Health Investors has sold its 148-bed, Edison senior living campus to its current tenant, Sunrise Senior Living, for $23 million. The Edison property is located in close proximity to the Garden State Parkway and the New Jersey Turnpike.
PRINCETON, N.J. — Dallas-based Ashford Hospitality Inc. and its joint venture partner have received a $112.6 million loan for two hotel properties: the Westin Hotel in Princeton and the Renaissance Hotel in Nashville. The properties are part of the company's Highland Hospitality portfolio, in which Ashford has a 71.7 percent ownership interest. The five-year loans have a fixed interest rate of 4.4 percent and replace two existing loans, which had a combined balance of $76.8 million. The deal completes the refinancing of three CIGNA loans in the portfolio.
BRIDGEPORT, CONN. — Houlihan-Parnes Realtors has arranged a $3.7 million loan for the acquisition of eight garden-style apartment buildings in Bridgeport. The borrower acquired the assets from U.S. Bank for $5 million. The properties total 160 units and include laundry facilities and on-site parking. Jerry Houlihan of Houlihan-Parnes arranged the three-year loan, which amortizes over 30 years, through a New Jersey-based bank.
KUTZTOWN, PA. — A joint venture between Woodmont Industrial Partners and AEW Capital Management has acquired a 385,000-square-foot industrial property in Kutztown for $21.3 million. The distribution center, located at 9747 Commerce Circle, is fully leased to Teva Pharmaceutical USA Inc., Hearth & Home Technologies and Palram Industries. The property is located within the 250-acre Arcadia West Industrial Park. Paul Torosian, John Plower and Gary Gabriel of Cushman & Wakefield represented the seller, a joint venture between Endurance Real Estate Group and Thackeray Partners, in the transaction.
With all the construction vehicles on retail sites as you circle metro Boston, we can now quantify the retail slowdown attributable to the recession as a three-year window. Never has the local retail market been healthier than it is today. WS Development is under construction with its Whole Foods-anchored Meadowbrook Walk in Lynnfield. The Nordblom Company has begun 3rd Avenue, a Wegmans-anchored lifestyle project in Burlington. Market Basket is well under way at the former Polaroid site in Waltham. New England Development is building its Wegmans project in Chestnut Hill while WS redevelops the former Macy’s further east on Route 9. Also moving forward, though at a slightly earlier stage, is NED’s long-awaited Westwood project. A total of almost 3 million square feet of new high-profile — even iconic — retail space along Boston’s inner ring beltway is now upon us, exactly three years later than originally anticipated. Notably, grocery is driving all of these larger projects. While traditional market leader Stop & Shop makes only narrowly strategic moves and Shaw’s languishes, grocery chains of a wide range of sizes targeting distinct demographics have inspired development at both the local and regional level. Wegmans, Market Basket, Whole Foods, Price Rite …
NEW YORK CITY — A joint venture between RWN Real Estate Partners, Dalan Management and Standard Property Co. has acquired a mixed-use portfolio in New York City for $49.9 million. The properties are located at 380-386 Broome St., 9 Christopher St. and 55-59 and 61-63 Delancey St. The portfolio features 100 multifamily units and 14 fully-leased retail units. James Nelson, Michael DeCheser and Robert Burton of Massey Knakal represented both parties in the transaction.
GARDEN CITY, N.Y. — Onyx Equities has purchased Atria West, a 235,000-square-foot, Class A office building in Garden City. CAF Realty was the seller. The deal, one of the largest office transactions of 2012 on Long Island, closed for a reported $29 million. Onyx will soon begin upgrading the public areas of the property, which is also known as 900 Stewart Avenue. Spector Group, which designed the building, is designing the renovations. Tenants at the building include JP Morgan Chase and AT&T. There is currently 77,452 square feet available for lease. The company has appointed the Rochlin Organization as leasing agent.
